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2026-11-01 05:54:24
Turkey has appointed a new head of its market regulator to address the recent investment fund crisis that has shaken financial markets. Turkish President Recep Tayyip Erdoğan appointed Muhsin Atci, chairman of the tax audit committee, as the head of the capital market regulator to handle the crisis. An official statement released Sunday morning revealed that Erdoğan also appointed Ersin Basar Ekmekci as vice chairman of the capital market committee and Yasemin Girici as a member. As the head of the committee, Atci will lead the handling of the crisis's aftermath. The crisis initially stemmed from some investment funds' inability to fulfill redemption requests, triggering a mass exodus of investors and causing a stock market downturn. Critics have questioned whether the regulator, known as SPK, had taken sufficient regulatory measures to prevent what the Turkish Justice Minister described as "Ponzi scheme-like" risks.
